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OFAC adds to Nicaragua sanctions, issues a General License… and publishes one new FAQ

Today, OFAC added the following person:

LOPEZ DELGADO, Ruy, Carretera Masaya, Km 6.5, Plaza 800 Mts Sur Lomas Santo Domingo, Casa #6, Managua, Nicaragua; DOB 30 Jun 1949; POB Managua, Nicaragua; nationality Nicaragua; Gender Male; Passport C01850896 (Nicaragua) issued 11 May 2015 expires 11 May 2025; National ID No. 0013006490003J (Nicaragua) (individual) [NICARAGUA].

and entity:

EMPRESA NICARAGUENSE DE MINAS (a.k.a. ENIMINAS), Residencial Bolonia, de la Embajada Alemania, 2 cuadras Oeste, 1 cuadra Norte, Managua, Nicaragua; Organization Established Date 2017; Organization Type: Mining of other non-ferrous metal ores; Target Type State-Owned Enterprise [NICARAGUA] (Linked To: LOPEZ DELGADO, Ruy).

to its Nicaragua-related sanctions program. They also issued General License 3, which authorizes wind-down activities with EMINAS for the next month.

Finally, they published one new Frequently Asked Question about the new GL:

1069. What does Nicaragua General License (GL) 3 authorize?

Answer

Nicaragua GL 3authorizes U.S. persons to engage in transactions prohibited by the Nicaragua Sanctions Regulations, 31 CFR part 582 (the NSR), that are ordinarily incident and necessary to the wind down of transactions involving Empresa Nicaraguense de Minas (ENIMINAS), or any entity in which ENIMINAS owns, directly or indirectly, a 50 percent or greater interest (collectively, “Blocked ENIMINAS Entities”), through 12:01 a.m. eastern daylight time, July 18, 2022, provided that any payment to a blocked person must be made into a blocked account in accordance with the NSR.

After the expiration of this authorization, unless exempt or authorized by the Office of Foreign Assets Control, U.S. persons will be prohibited from engaging in transactions with the Blocked ENIMINAS Entities and must block such entities’ property or interests in property that are in, or thereafter come within, the United States, or the possession or control of a U.S. person.

Non-U.S. persons generally do not risk exposure to U.S. blocking sanctions under the NSR for engaging in transactions with blocked persons, where those transactions would not require a specific license if engaged in by a U.S. person.

Links:

OFAC Notice

General License 3

New FAQ

Categories: Frequently Asked Questions (FAQ) Licenses Nicaragua sanctions OFAC Updates Sanctions Lists

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